Prove

The Future Of User Authentication: A Guide To Behavioral Biometrics

What is behavioral biometric authentication, how does it work, and why should you be interested?

Buyer’s Guide: How to Find the Right KYC Solution for Your Company

With so many different KYC products in the marketplace, it can be overwhelming and confusing to determine which KYC product will help your business do its due diligence without breaking the bank or slowing onboarding times to a crawl.

Prove Ranked as Identity Verification Leader by G2 Users

User ratings applaud Prove’s innovative technology solutions for identity authentication, identity verification, and fraud prevention

Keeping an Open Mind with Open Banking

The financial services industry is still finding its footing in open banking.

Goldman Sachs Quietly Launches Mobile Banking App

As incumbent companies continue to maneuver the demands of consumers, many of them are betting on a tech/mobile-forward approach to help retain satisfied users.

How Banks Are Using AI as a Tool for Transformation

Several promising players now use AI to solve some of the major problems for customers in the banking and financial services industry.

Overview of the Payments Industry

The Ecosystem, Consumer & Wholesale Payments, and the Application of New Technologies

Gig Economy Part 3: Insurance for Gig Economy Employers and Workers

One of the elements of financial well-being is finding adequate insurance for the gig workers.

HealthTech – FinTech’s Little Brother Is Growing Up

Healthcare in the US is a hotly debated topic, and the space is incredibly fragmented. But, can FinTech help save the US healthcare system?

Gen Z Wants FinTech on Their Terms

FinTechs and financial institutions have their sights set on Gen Z. Many of them are graduating, gearing up to join the workforce, and are ready to invest!

7 Most Important Things You Should Know About the Global FinTech Industry

Global investments in FinTech ventures tripled to $12.21 million in 2014, which means FinTech gained significant momentum and became a hot spot attracting a lot of attention.

Prove Partners with The Knoble to Fight Human Trafficking and Other Human Crimes

Partnership aims to protect vulnerable and targeted populations from exploitation and abuse by leveraging digital identity expertise

All You Need to Know About PSD2 & Open Banking

PSD2 is part of a global trend in banking regulation that aims to foster market competition, innovation, and security.

Neobanks Solving Startups’ Banking Problems

Banking has now become data-driven, and service delivery channels have been digital for the most part.

Setting Up a Neobank From Scratch

Core Platforms for Digital-Only Banks – Where Are the Original Gangsters?

While a plethora of challenger banks and neobanks have preferred to build their core platforms in-house, the game is not lost for traditional platform providers.

Upcoming Digital-Only Bank Licenses in Singapore: A Deep Dive

SDK.Finance's Role Amid PSD2 & Open Banking Environment

SDK.finance, a European software FinTech vendor, reveals the strategic options of partnering with banks for PSD2 implementation.

The Story of Tinkoff Neobank - From a Credit Business to a Super Banking App

Spectacular growth has made Tinkoff the third-largest bank in terms of the number of customers.

PSD2: How will it Affect Banks and Credit Unions in EU?

How Can Banks in Europe Prepare Themselves for PSD2?

PSD2 aims to reduce the entry barriers for a FinTech firm and enhance consumer protection & convenience.

Collaborating for Growth: Exploring Neobank-Payment Provider Partnerships

A look at an exciting development in the neobanking space, one that is aimed at boosting the financial freedom of players in a conventionally underserved segment – small and medium enterprises, otherwise known as SMEs.

Token, Inc. Launches a New Programmable Tokenization Payment Rail

Digital ‘Banking-as-a-Platform’ solution delivers instant PSD2 compliance for banks, mitigates digital payment risks, and eliminates disintermediation.

APIs Perspective: Analysis of the PSD2 and Open Banking in Europe

Banking, which is a heavily regulated industry, is changing partly due to regulations and also due to new players and tech-led experiences they are bringing to the customers. Among these regulations, one such regulation has the potential to change banking forever: Open Banking.

From Open Banking Towards Open Everything

Open Banking initiatives bring technology to the forefront of finance by encouraging (sometimes even mandating) secure underlying account data sharing by banks.

AI and Open Banking’s Strides to Transform Lending

With automated systems and digital processes embedded in almost every modern bank’s service offering, it is interesting to observe the many transformations that technologies like AI and Open banking have brought into the industry.

The Rise of Neo/Digital Banks That Cater Only to SMEs

Neobanks Continue to Up the Game in the US Market

Neobanks are providing a digital version of traditional banking and innovatively working on building customer-centric products as part of their collective mission to build trust in new-age FinTech banking services.

Neobanks Targeting Niche Customer Segments: A Deep Dive

Neobanks are viewed as a direct challenge to the status quo of the established traditional banks, with their lower cost structure and hyper-personal customer experience.

Neobanks – A Look at Service Offerings & Funding Analysis

A transformation in the banking industry was due – and neobanks are bringing that transformation.

Monese: A Mobile Bank for Immigrants

Monese is a UK-based startup that targets immigrants who experience daunting tasks in opening a UK bank account as a foreigner.

FinTech VC Funding Stats – Lending, Neo/Digital Bank, InsurTech & B2B FinTech Top the Charts in August 2019

FinTech startups worldwide raised $3.21 billion in funding in August 2019 across 173 VC funding deals.

How Mobile Banking Wins the Loyalty of Small Businesses

As reported by Aite Group, only 32% of more than 1,000 US companies indicated they used mobile banking services.

Infographics Analyzing Incumbent Banks’ Standalone Fresh Mobile-First Offerings

A Perfect Storm of Opportunity in Mobile Banking

A perfect storm of lowered IT costs and changing consumer tastes are putting banks in the position to play the Facebook role, for once. With the right strategy, banking providers of all sizes can now claw mobile users and engagement away from non-bank financial apps and capture more customers and revenue in the process.

How Important Is Mobile Banking for Millennials?

Millennials constitute more than a quarter of the US population. That is why companies across industries turn their priority and attention to creating products that can cater to this significant group.

The Role of AI Technologies in Humanizing Digital Banking

Digital banking has gone mainstream, but it has become the only point of contact between banks and their customers in many cases.

Tech Innovation in the Remittance Industry

There is no consensus on the level of tech innovation in the international or cross-border money transfer and payments industry.

New Mobile-First or Mobile-Only Bank Offerings by Traditional Banks

For traditional banks that are trying to change themselves, they find that the digital transformation process is a long-drawn exercise that involves cultural change and organizational change apart from just the technology changes.

Financial Institutions Report Increase in Mobile Banking Customers and Mobile Payments

A 2015 research report on the smartphone industry in the US states that 64% or two-thirds of Americans have a smartphone. This is indeed a 35% rise in the past four years.

Banks & Banking: Digital Transformation and the Hype of FinTech

The rise of the ever-growing relationship between technology and financial services is bringing significant changes to the banking industry, which is becoming a battleground where competition is developing to be increasingly multifaceted.

Banks moving towards Digitization: Barclays Cheque Imaging

Anyone who has ever cashed in a cheque would have realized how cumbersome and lengthy the process is given the digital age we live in.

The Impact of PSD2 Explained

Under the Payment Services Directive (PSD2), the digital revolution of making payments online is now regulated at a community level.

The PSD2 Final RTS: 10 Things You Need to Know

The European Banking Authority (EBA) has published its ‘final’ draft Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and secure communication under PSD2.

5 Reasons Why Neobanks Are So Cool (And There Is No Trouble With Tandem)

Neobanks and challenger banks raised more than $300M of investments in the last year.

3 Innovative Mobile Banking Features for the Holiday Shopper

2016 has seen a shift in banking innovation and the payments space to accommodate the evolving consumer.

A List of Mobile-Only Banks

Here’s a list of mobile-only banks that are defining the industry today:

Top 5 European Banks in FinTech Investments Over the Past Three Years

This article will analyze the top five European banks that have been investing significantly in FinTech startups since 2018.

Let's Chat: Catering to Remittance Customers With Chatbots

Over the next few years, chatbots will take on a bigger role within the remittance industry.

From Lost Opportunities to Unfair Advantages in the Insurance Industry – Bridging the Gap with Technology

The insurance industry constantly changes to accommodate complicated new regulations and a changing competitive landscape.

What Is the US Banks’ AI Strategy?

Investing Intelligently: Applications of AI, ML & Big Data in Investment Management

Chatbots in PFM and Banking: From Apps to Personal Bot Assistants

Last Year, We Said Banks Would Buy & Invest More in Startups – What Happened?

A look at the investment and acquisition deals of 2018.

Advancement of AI and Machine Learning in Fraud Prevention

This article explores what is new from the AI and ML desk to help FIs in fraud detection and prevention.

The ‘Socialization’ of Financial Services

Peer networks play an essential role in delivering financial services nowadays, bringing social into traditionally corporate-dominated industries.

The Promise of Supervisory Technology (SupTech)

With technology companies opening new opportunities in the banking and insurance industries, it’s never been more critical to understand the risks they carry along.

New Cybersecurity Challenges for FinTech Startups

FinTech startups are growing at a staggering rate. One of the reasons they are so successful is that they offer alternatives to conventional financial solutions.

Voice Is the New OS: Getting Ready for the AI-First World - Part 2

Advanced voice technology will soon be ubiquitous, as natural and intelligent UI integrates seamlessly into our daily lives.

Cost of Bank Misconduct

The cost of misconduct is defined here as costs borne by banks in connection with imposed penalties, paid settlements, costs of regulatory proceedings, customer compensation, and other relevant costs.

Reimagining Loyalty Programs With Blockchain Technology

According to some estimates, more than 75% of US adults participate in customer loyalty programs like those offered by credit card companies, hotel chains, and retailers.

How BigTech Challenges Banks

The Secret of Success in FinTech: Partner, Merge, Acquire

FinTech is not a disruptive force (and blockchain is not a disruptive technology). Instead, it’s the history of institutional banking repeating itself.

Innovative Onboarding: How European FIs Are Building Delightful Banking Experiences

A study of 22 banks (institutions + digital-only) across APAC, Europe, and the Middle East analyzing digital onboarding methods & eKYC techniques for opening bank accounts found that OTPs and selfies were the most prevalent modern identity verification methods for digital onboarding among those banks.

87% of Consumers Prioritize Convenience Over Security When it Comes to FinServ

Brandwatch, in collaboration with Twitter, just released the results of a very curious study analyzing billions of conversations on one of the most vibrant social media channels.

Sound May Replace OTP as Second Factor of Authentication

2FA protects online accounts from data theft even if the user ID and password are compromised.

Multi-Bank Platforms as a Unification Tool in the Financial Services Industry

While it is not hard to imagine banks and FinTech startups in a beautiful friendship, the task is a bit more complicated for bank-bank relationships.

5 Critical Checks Crypto Exchanges Should Employ to Prevent Fraud and Accelerate Onboarding

Steps crypto exchanges can take to address them in order to mitigate fraud while also improving the customer experience for new users.

Banking in the Digital-First World – A New Reality for SME Banking Courtesy Challenger Banks

Apart from being the lifeline of manufacturing, retail, agriculture, and other vital industries, SMEs contribute massively to a country’s international trade.

Six Ways FinTech is Helping Small Business Owners Meet Cash Flow Challenges

Most SMBs are affected by some application of financial technology, whether they know it or not, and FinTech is changing how small businesses meet cash flow concerns within their business.

Making a Difference with FinTech – Three Examples

There is enough said about the scale of the FinTech industry, its inclusive agenda, and massive surrounding ecosystem.

Bridging the SME Financing Gap: Critical Role of FinTechs

Banks have traditionally been a custodian of customer relationships in the SME lending space, but after the global financial crisis, there has been a significant reduction in their risk appetite.

Blockchain-Powered Trading and Investment Platforms

A list of blockchain-powered trading platforms

Cash Replacement 101: Acceptance and Risk Management

The term cash-replacement typically refers to a myriad of products such as debit cards, prepaid cards, credit cards, etc., that effectively enable a transaction without cash or (almost) replace cash.

Global Microtransactions

International payments are not optimized for microtransactions. A foreign withdrawal from an ATM may be charged up to 5%.

The Disruption Hypothesis

M-commerce, given its relatively one-dimensional nature involving the consumer and a provider, is relatively easy to figure out. However, after years of trial and error, some of the challenges related to the technology for m-payments are gradually falling into place.

Is Bitcoin-Related Fraud Ever Going to End?

If you happen to be pro-bitcoin, there is no reason to get alerted. Fraud is not a biased matter, and fraudsters do not target cryptocurrency in particular just to sink bitcoin itself and put an end to the era of the cryptocurrency.

Banks and Apple Pay: The Love-Hate Relationship

EdTech: When Technology for the Sake of Technology Creates a Mess

Advanced machines, devices, and technological capabilities have had a significant transformative effect on the financial services industry,

Traditional Brokerage vs. Discount Brokerage - What New Investors Preferred During COVID-19

When Robinhood embarked on a mission to democratize online trading and end Wall Street firms’ practice of charging fees for executing trades, many thought it was impossible; few also said that this was an unsustainable model and predicted its failure.

Importance of Tokenization in the World of Connected Devices

The Internet of Things (IoT) is no longer a new buzzword in the industry as it is successfully making its way into our daily lives through smartwatches, cars, refrigerators, thermostats, and smart bulbs.

Why Facebook Is a Dark Horse in the Financial Services Industry

Sensory and Tracking Technologies Are the Key to IoT Proliferation

The Aviation Industry Is Getting a FinTech-Powered Upgrade

Active.ai Uses AI to Deliver Virtual Assistant Banking Services, Announces $3M Round and Partnerships

Discover’s Network of Networks Strategy Makes it More Global and Much Bigger Than It Appears

Imagine an international trip from the US to China, India, and the UK, where you can make purchases through your credit cards without paying any foreign transaction fees.

The Sharing Economy of Blockchain

Digitization of SME Finance Is a Win-Win for All

Globally, access to finance remains one of the most significant constraints to SMEs’ growth, productivity, and even survival – and to the critical jobs they create. The SME

Three Types of Mobility Transforming the Financial Services Industry

Technology has become a defining factor in the financial services industry, and traditional financial institutions are experiencing competition from unexpected rivals.

Making a Case for Centralized Systems

Centralization is a natural response of any industry to increasing complexity and globalization and a natural push towards efficiency.

Payments: A “Dirty” Low Margin Business, Suddenly Has So Much Interest. Why?

There is much more in the payments space that has a more significant impact yet gets less talked about. We look at some of these segments today in this article.

The API Bandwagon Has Picked up Pace in the World of FinServ – Courtesy FinTech

SupTech – Regulators' Push to RegTech

RegTech as a segment has been witnessing immense interest and activity in the recent past – be it due to the enormous fines for non-compliance being imposed by regulators across the world.

Investment Banking: An Industry in Structural Decline

One of the most aggressive and swollen financial industry segments is investment banking.

A Single Powerful Lobby Can Be Created By the Merger of Five UK Trade Associations, Supported by Nine Banks

BBA, Payments UK, the Council of Mortgage Lenders, the UK Cards Association, and the Asset Based Finance Association are set to merge their efforts to create a more substantial lobbying power, backed by nine British banks, including HSBC, Lloyds and Barclays, and building society Nationwide.

Account Aggregation – Questionable Viability

The PSD2 (Revised Payment Service Directive) – going to be implemented across SEPA (Single Euro Payments Zone) in 2018 – will bring about many changes to how financial services are delivered to customers.

Global Banks and Their Branch Closures Over the Past Few Years

What Makes FinTech So Successful and Disruptive?

Success in FinTech is often comparable to a hike without a backpack in a company of experienced hikers who carry large sacks with water and snacks and are willing to share when necessary. In the case of FinTech, experienced companions are the bank investors.

Why Alternative Lending Is a Goldmine for Banks & Who Is Taking Advantage of It

There is a high-margin segment in the banking value chain space that FinTech has stolen away: lending.

Smartdeposit, the New Feature From Betterment, That Offers Automated Investing Solution for Excess Cash In Your Bank

Now hop on to SmartDeposit, the new feature from Betterment that offers an automated investing solution for excess cash in your bank account.